The recent public offering of Space Exploration Technologies, also known as SpaceX, has given Elon Musk fans another investment option to consider, as Tesla (NASDAQ: TSLA) now has to share the spotlight.
And at a market cap of around $1.5 trillion, it is firmly behind the rocket company, whose valuation was north of $1.9 trillion as of the end of last week
Tesla’s stock is down close to 10% for the year, and a big test for it could be how it does in its upcoming earnings report. Its latest quarterly earnings numbers are set to come out on July 22. Could they give the stock the boost that it desperately needs?
Here’s what I think will happen. The company is likely to show some decent growth on both top and bottom lines When Tesla last reported earnings, its growth rate was impressive at 16%. The company has reduced prices as it looks to fend off competition, and its revenue totaled $22.4 billion during the first three months of the year, versus $19.3 billion a year ago.